this is the universal experience and the bears boys are right to say it. the Major Record Label deal is almost always:
we'll give you money to make an album and tour! and in return we'll take most of your money forever!
and people sign up because either 1) they don't understand what they're signing up for, or more likely 2) this is the only way they'll ever make a record and go on tour
the thing is, if you're capable of funding your own records and touring then record labels have very very little to offer you. you're paying for the prestige of being on a label and the connections it gives, and you're paying for it with your life's work
one of my friends signed with UMG around 2007. his band made their album with a big name producer, and then they were told not to play any shows until the album release date was announced. they waited to be told when their album would be released. and they waited. and they waited.
the record label decided not to release their album. they were contractually prevented from playing shows until their label dropped them a year later. by the time they could legally play shows again their momentum had died and their fanbase had drifted off. the band didn't even have the rights to release the album themselves.
last year i found the album on an old hard drive so i messaged my friend about it. not only did he not have a copy of it, none of the band did. they literally didn't own a single copy of a year's worth of work between them.